Russia’s massive build-up of soldiers, warplanes, equipment and extended military drills near Ukraine’s borders increased fears of a possible invasion within the next few days. That could have renewed selling in Bitcoin (BTC), which plummeted below the strong support at $39,600. Among the gloom and doom, there is a ray of hope for crypto investors because data from Glassnode shows that more than 60% of Bitcoin supply has not been used in any transaction for more than a year. This suggests that long-term hodlers are not dumping their positions in the downtrend. Mike McGlone, chief commodity strategist at Bloomberg Intelligence, …

Manchester United, one of the oldest soccer clubs globally, has confirmed the partnership with blockchain firm Tezos as the official training kit and technology partner. The soccer club aims to introduce its fans to the decentralized Web3 tech amid growing focus from mainstream firms and brands. The team would make its first appearance in the new kit on Saturday against Southampton Man United’s previous sponsorship deal with AON expired last month, and Tezos will be paying 33% on top of the previous agreement at $27 million yearly. Tezos will help the soccer club gain more exposure to Web3 technologies and …

In May 2021, a Nashville couple known as the Jarretts filed a lawsuit against the United States Internal Revenue Service (IRS) over taxes they had paid on unclaimed and unsold Tezos (XTZ) staking rewards. At the beginning of February, news broke that the lawsuit filed by the Jarretts had come to an end, resulting in the IRS issuing the couple a tax refund for $3,793. Confusion among crypto holders Not long after this news made headlines, confusion among the crypto community piqued. One crypto media publication sent a tweet from its official account on Feb. 2, 2022, saying, “BREAKING: IRS …

Manchester United, one of the world’s most popular soccer (or football) teams is reportedly set to announce a multi-year training kit sponsorship by Proof-of-Stake blockchain platform, Tezos. First reported by The Athletic, the deal is apparently in excess of $27 million per year, allowing Tezos to place its logo on the team's training uniform. Manchester United have reportedly finalized filming promotional material ahead of the official announcement. The report also speculates that the partnership may involve collaboration in the technology space, such as a Metaverse or other Web3 project. Tezos has made heavy investment into sports sponsorships. In May 2021, …

A United States couple suing the federal tax agency over Tezos (XTZ) staking rewards taxation chose to forego a tactical victory and engage in a court battle that could eventually result in policy change. Joshua and Jessica Jarrett, who run a node on the Tezos network (thus “baking” new blocks, in the ecosystem’s lingo), have sued the Internal Revenue Service (IRS) over the taxes paid on the XTZ tokens created in 2019. The Jarretts filed a refund claim on upwards of $3,000 paid on the tokens, which the IRS ignored. The fundamental point of contention underlying the lawsuit is the …

A Nashville couple’s lawsuit over taxes they paid on unclaimed and unsold Tezos staking rewards is coming to an end with the Internal Revenue Service (IRS) agreeing to issue them a refund. The decision may set a precedent for future guidance on how crypto rewards earned through staking are taxed. At present Proof-of-Stake staking rewards are classified as income, with tax payable as they are gained. The new development suggests they should be only taxed when they are sold for USD. The Jarretts filed a complaint against the United States government in May 2021 which stated that the 8,876 Tezos …

The Tezos network has seen impressive growth over the past 12 months in smart contract addresses and general adoption, primarily driven by non-fungible tokens (NFTs). Activity within the Proof-of-Stake ecosystem has had a spurt of growth recently as it aims to compete with Ethereum for NFT minting and markets. According to Coin Metrics’ “State of the Network” report on Feb. 1, the number of transactions involving smart contracts has surged over the past 12 months to more than 50,000 per day from less than 10,000 per day in January 2021. The report observed that the growth has been driven by …

Decentralized finance (DeFi) dominated media headlines throughout 2021 and the sector, along with nonfungible tokens (NFTs), helped to initiate the mass adoption of cryptocurrencies. While high yields on staking and instant profits from flipping jpegs have proven to be very lucrative for investors, it’s important to remember that none of it would have been possible without the underlying capabilities of smart contract technology. The Ethereum network remains, hands-down, the most widely used layer-one smart contract platform in the crypto ecosystem, but everyone knows about the high fee and clogged network issues of the past few years. In 2021, competing networks …

NFT marketplace Rarible officially launched its integration with proof-of-stake blockchain Tezos pm Thursday. This collaboration will allow Rarible to feature Tezos NFTs on its marketplace and support secondary sales of live Tezos projects while enabling users to mint low-fee NFTs. Rarible’s integration with Tezos marks the third layer 1 blockchain supported by the platform, alongside Ethereum and Flow, Dapper Labs’ blockchain network that powers NBA Top Shot. In Rarible’s effort to build a multi-chain platform to consolidate the NFT space, integrations with Solana and Polygon are next, according to Rarible CEO Alexei Falin, who told Cointelegraph: “Rarible firmly believes that …

In contrast, a transaction on Tezos takes 0.0016 kWh or less than the energy required to charge an Apple Tablet for 10 minutes. 100 Tezos transactions is equivalent to driving 10 km in a Tesla Model 3. The energy use of the entire Tezos network is approximately equivalent to two households in the U.S. for the whole year. One question, though, is how competing blockchains such as Tezos, Polkadot and Solana will perform on the market once Ethereum transitions to Eth2. According to Cointelegraph Research’s original investigation into the most energy-efficient blockchains for nonfungible tokens (NFT), the Ethereum network is …

The roller coaster ride that is the cryptocurrency market continued its volatile ways on Dec. 8 as Bitcoin (BTC) price briefly slipped below the $49,000 level. Despite the setback, there are still clear signs that crypto mass adoption is taking place, a prime example being Visa's announcement the it will launch crypto consulting and advisory services for merchants and banks. Analysts expect that Bitcoin will continue to search for firmer footing and while this process plays out, Ether and a handful of mid and low-cap altcoins are booking moderate gains. Data from Cointelegraph Markets Pro and TradingView shows that the …

French video game publisher Ubisoft announced its first foray into NFTs via a new platform called Ubisoft Quartz to launch in beta this week with Ghost Recon Breakpoint for PC players on Ubisoft Connect. Introducing Ubisoft Quartz We're bringing the first energy efficient NFTs playable in a AAA game to Ghost Recon: Breakpoint! Try it in the beta from December 9 with three free cosmetic drops and learn more here: https://t.co/ysEoYUI4HY pic.twitter.com/owSFE2ALuS — Ubisoft (@Ubisoft) December 7, 2021 Related: Microsoft muscles into the metaverse with Teams updates and Xbox upgrades According to a statement shared on the Ubisoft website, players …